Ghana plans to issue GHC24 billion (US$3.24 billion) in bonds in second quarter according to a government debt issuance calendar published by the Bank of Ghana (BoG).
It said GHC20 billion would be used to roll over maturing bonds, while the remaining GHC4 billion is fresh issuance to meet the government’s financing requirements.
Ghana’s economy is currently facing a raft of financial woes including rampant inflation, a depreciating currency and a heavy debt burden.
Its credit ratings have recently been downgraded for reasons including concerns for the country’s access to international capital markets.
The calendar showed that the government plans to issue 91-day and 182-day treasury bills weekly, while 364-day treasury bills will be issued every two weeks.
Two- and six-year debt will be issued through the book-building method, it showed.